Elutia (NASDAQ:ELUT) Given Overweight Rating at Cantor Fitzgerald

Elutia (NASDAQ:ELUT)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research report issued on Friday,Benzinga reports. They currently have a $10.00 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 157.73% from the company’s current price.

Elutia Stock Up 1.3 %

ELUT traded up $0.05 during trading on Friday, hitting $3.88. The company’s stock had a trading volume of 482 shares, compared to its average volume of 41,701. The business’s 50 day simple moving average is $3.75 and its 200-day simple moving average is $3.67. The firm has a market cap of $132.15 million, a PE ratio of -1.33 and a beta of 0.76. Elutia has a one year low of $1.39 and a one year high of $5.24.

Hedge Funds Weigh In On Elutia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nantahala Capital Management LLC raised its stake in Elutia by 8.8% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock worth $8,907,000 after acquiring an additional 145,697 shares during the period. AIGH Capital Management LLC grew its position in shares of Elutia by 288.8% during the second quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock valued at $8,419,000 after purchasing an additional 1,260,750 shares in the last quarter. Perkins Capital Management Inc. increased its stake in Elutia by 9.8% in the 3rd quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock worth $3,263,000 after acquiring an additional 76,450 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Elutia by 50.5% during the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock worth $266,000 after acquiring an additional 18,000 shares in the last quarter. Finally, Arcus Capital Partners LLC boosted its position in shares of Elutia by 100.0% during the 3rd quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $76,000 after acquiring an additional 10,000 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Elutia Company Profile

Elutia Inc, a commercial-stage company, develops and commercializes drug-eluting biologics products for neurostimulation, wound care, and breast reconstruction in the United States. The company operates in three segments: Device Protection; Women's Health; and Cardiovascular. It offers CanGaroo Envelope, which is used to accommodate cardiac implantable electronic devices, such as pacemakers and internal defibrillators.